Facebook is hitting new intra-day lows as I write this. And again I ask, “who cares?” I don’t mean to be unsympathetic, but I’m going to assume that anyone who bought into in Zuckerberg’s heads-I-win-tails-you-lose coming out party has only done so with money they can afford to lose. If not then I would suggest that they read this and this.
We’re continuing with our theme: whether Zuck’s company has a bright future or not, the Facebook IPO is a done deal. Fuhgeddaboudit. There are much more important train wrecks looming up ahead. Last time we talked about the euro’s near-death experience. Now let’s look at a giant problem looming over America: the “fiscal cliff”. Continue Reading
The story of Facebook’s disappointing IPO is a gripping tale, and it holds some valuable lessons. But it concerns an event that has already happened.
Forget Facebook — there are far more interesting events in play and that will affect you, if only at the margins. They haven’t happened yet, and they may not happen at all. But if they do, you’d sure as hell better have a plan.
This is the first in a series. I will add to it as frequently as I can over the next day or so, so check back often.
1. The euro will have, at the very least, a near-death experience. Continue Reading
Say what you will about Lloyd Blankfein, the CEO of Goldman Sachs, but for all his failings he’s probably quite intelligent. Here’s what he said in response to a question on the upcoming Facebook IPO from Eric Schatzker of Bloomberg TV. Continue Reading
Warren Buffett’s fan page has almost 261,000 Facebook friends, but has the 81-year old billionaire has ever been on Facebook, himself? Regardless, he nows seems to have mastered one of the dark arts practiced by status updaters everywhere: vaguebooking. Continue Reading